Password management is a software solution that supports the storing and organization of passwords. Password management has appeared as a significant segment of the identity management market. Human-generated passwords are frequently algorithmically weak and prone to attacks. Password management is helpful for people and is also used for different enterprises, such as small-sized businesses, medium-sized businesses, and large-sized businesses, as a tool for governance and information and security.
MARKET SCOPE
The "Global Password Management Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the password management market with detailed market segmentation by type, access, organizational size, industry vertical, and geography. The report provides key statistics on the market status of the leading password management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global password management market is segmented into self-service password management, and privileged user password management.
- On the basis of access, the market is segmented into mobile devices, desktops and laptops, voice enabled password systems, and others.
- Based on organizational size, the market is segmented into SMEs and large enterprises
- Based on industry vertical, the market is segmented into BFSI, education, healthcare, manufacturing, public sector and utilities, retail and wholesale distribution, telecom and IT, and others.
MARKET DYNAMICS
Drivers:
- An increased instance of attacks by hackers is one of the major factors driving the growth of the password management market.
- Moreover, the rapidly growing cloud market is anticipated to bring new opportunities for the password management market.
Restraints:
- Security concerns may hinder the growth of for the password management market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The password management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the password management market in these regions.
IMPACT OF COVID-19 ON PASSWORD MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the password management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from password management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the password management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Avatier
- HelpSystems.
- Dashlane SAS
- FastPassCorp A/S.
- Hitachi ID Systems, Inc.
- IBM
- Micro Focus
- SailPoint Technologies Holdings, Inc.
- Siber Systems, Inc.
- Zoho Corporation Pvt. Ltd.